Revised timeline for taking Input Tax Credit pertaining to Financial Year 2017-18 This is to apprise you regarding the revised timeline for availment of Input Tax Credit (‘ITC’) of invoices of Financial Year (‘FY’) 2017-18 and debit notes pertaining to invoices of FY...
Input tax credit availability where ITC is not reflected in GSTR-2A or where the supplier has not deposited GST One of the major worries occupying taxpayers’ mind these days is the availability of Input Tax Credit (‘ITC’) where ITC is not reflected in GSTR-2A or where...
AAR Update | Inclusion of cost of diesel provided by recipient in the value of transportation service This is to apprise you regarding the recent ruling rendered by Chhattisgarh Authority for Advance Ruling (‘AAR’) in the case of Shri Navodit Agarwal,...
Cenvat credit on outward freight in case of FOR sales In reference to our earlier update dated June 18, 2018 on the referred issue, we would like to apprise you regarding recent decisions of CESTAT, Ahmedabad in the cases of Ultratech Cement Limited vs. CCE and Sanghi...
Eye Share : GST on Supply of free items and discounts – the confusion continues Recently, CBIC issued Circular No. 92/11/2019-GST dated March 7, 2019 clarifying treatment of sales promotion schemes under GST viz. buy one get one, free samples, pre-agreed discounts...
Retrospective reversal of ITC for real estate sector – An ‘unreal’ welfare? By Puneet Bansal, Managing Partner, NITYA Tax Associates “You can’t build a great building on a weak foundation. You must have a solid foundation if you’re...
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